Many homeowners around the country have recently received the updated Capital Value of their home, which in some cases has shown a massive increase in value. For some, the increase will feel like an eyewatering amount (close to winning lotto), and while this may be greeted with joy, there is one downside: higher valuations typically
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If you’re 60 or older and own a home, a reverse mortgage lets you borrow money to live a more comfortable retirement and not repay the loan or accumulated interest until your home is eventually sold. If you wish, you can also make repayments along the way to reduce the amount borrowed and interest charged.
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Many people find themselves in retirement with less money than they expected, or a cost of living that’s way more than they imagined. They’ve worked hard for decades and paid off the mortgage, or very nearly, but for all sorts of reasons their retirement savings are a bit light. Their superannuation barely covers the basic
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